AFC Gamma (NASDAQ:AFCG) Director Acquires $53,250.00 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 15,000 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were purchased at an average cost of $3.55 per share, with a total value of $53,250.00. Following the transaction, the director directly owned 6,899,299 shares in the company, valued at approximately $24,492,511.45. This trade represents a 0.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AFC Gamma Price Performance

AFC Gamma stock opened at $3.47 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $4.58. The firm has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $3.05. The firm has a market cap of $78.66 million, a price-to-earnings ratio of 18.26 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. Equities analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 105.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AFCG shares. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AFC Gamma has an average rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.